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Dec 12, 2012
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worry about and prepare for when it comes to actually going over that fiscal cliff, if the folks in washington can't get their act together? >> well, i come from a part of south carolina which has been economically challenged for quite a long time and remains so. certain parts of south carolina have developed pretty strongly. but the part where i come from, mostly agricultural, mostly manufacturing, has a very high unemployment rate, high foreclosure rate and people are having a hard time there. i've visited there a few times since i became chairman. so part of the reason that we are engaging in these policies is to try and create a stronger economy, more jobs, so that folks across the country, the o where i grew up, you know, will have more opportunity to have a better life for themselves. that's extremely important, and i think it's very important that we not just look at the numbers. it's easy toe look at unemployment rate and say, well, it's 0.1%, 0.2%, one-tenth many, many people are represented there so it's very, very important to try to keep in mind the reality of unemployment, of fore
worry about and prepare for when it comes to actually going over that fiscal cliff, if the folks in washington can't get their act together? >> well, i come from a part of south carolina which has been economically challenged for quite a long time and remains so. certain parts of south carolina have developed pretty strongly. but the part where i come from, mostly agricultural, mostly manufacturing, has a very high unemployment rate, high foreclosure rate and people are having a hard time...
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Dec 6, 2012
12/12
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i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end of the day, we did see the markets get a good lift up about 40 points on the industrial average. nasdaq composite picked up 15 1/2 points. and the s&p tonight gain of 4.5% points, check out apple today, we did see a bit of a rebound after the big selloff yesterday. apple continues to trade higher in realtime, up 1.5% on apple at
i doubt our elected officials would be brazen enough to leave washington without an agreement? this is my hunch. if, and that is an if we are going to see a deal, i suspect it'll come in the next two weeks. if we know anything about d.c. lawmakers, their time off may be more of a sacred cow than the belief on tax and spending. if i'm right, it's too bad that their own self-interests motivate them more. >>> before we look the a the day on wall street. and it was a quiet day. at the end...
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Dec 12, 2012
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wells fargo advisors. >>> now to the other news in washington today. just 19 days until the fiscal cliff deadline, and it still doesn't appear like we are making much progress. aemon javers with the latest. >> reporter: not making much progress. dualing press conferences, one group brought out a group of adoring children and the other group brought out santa claus. not a lot of action. jamie dimon was on our air earlier today on cnbc and says the economy is poised to take off if we get a deal here. take a listen. >> the table is set very well right now. corporations, middle market companies, small business in good shape. 5 million more people than working than four years ago, housing has turned the corner. let's just keep it going. >> reporter: bill, when is that economy going to take off? house republican aides talking about the possibility of actually being in session on christmas day? that's not a likelihood, but the fact that they are even talking about it gives you a sense that we're not anywhere close to a deal just now, bill. >> all right. thank
wells fargo advisors. >>> now to the other news in washington today. just 19 days until the fiscal cliff deadline, and it still doesn't appear like we are making much progress. aemon javers with the latest. >> reporter: not making much progress. dualing press conferences, one group brought out a group of adoring children and the other group brought out santa claus. not a lot of action. jamie dimon was on our air earlier today on cnbc and says the economy is poised to take off if...
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Dec 13, 2012
12/12
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it's the second state to do so; washington was the first. the legal fate of these state laws is uncertain since federal law still considers marijuana illegal. but the legal business of marijuana is already growing in 18 states where it is allowed for medical use. we recently spoke with tripp keber, c.e.o. of dixie elixirs, a company that makes marijuana- infused products. >> tom: tripp keber is the owner of dixie elixirs. he joins us from denver, colorado. tripp,o you consider yourself in the drug business? >> i absolutely do not. we have been in the business for the last three years of making medicine for patients here in the state of colorado. by that, we certainly don't consider ourselves drug-makers. >> tom: considering you sell not marijuana specifically, but elixirs derived from marijuana, where do you get your raw materials? >> we have a 50,000 scare foot cultivation facility in denver. and that cultivation facility feeds our manufacturing facility, here in denver, colorado as well. and we control is called from seed to sale. >> tom:
it's the second state to do so; washington was the first. the legal fate of these state laws is uncertain since federal law still considers marijuana illegal. but the legal business of marijuana is already growing in 18 states where it is allowed for medical use. we recently spoke with tripp keber, c.e.o. of dixie elixirs, a company that makes marijuana- infused products. >> tom: tripp keber is the owner of dixie elixirs. he joins us from denver, colorado. tripp,o you consider yourself in...
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Dec 17, 2012
12/12
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that is all for "washington journal" today. thank you for turning in. later on, the house will be in at 12:00 p.m. for morning hours and then [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> here's a look at what is happening today. oming up, a look at egypt's constitutional referendum. we'll have a live on c-span to at 10:30 eastern -- on c-span2. we will focus on two stay today. we're in columbus, ohio and later we'll of taped coverage of the meeting in north carolina. beckett's underway at noon eastern on c-span3. rely that 12:15 with a discussion on raising the medicare eligibility age. you can watch it on c-span2. >> we want to beat on every device or every person at every hour of the day. we're a mobile society. the challenge is to make sure we're on pads, computers, phones, as well as in the traditional living room on the high-definition television screen. the other challenge is that spectrum is a finite resource and others want that resource. there's not enough spectrum to do all
that is all for "washington journal" today. thank you for turning in. later on, the house will be in at 12:00 p.m. for morning hours and then [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> here's a look at what is happening today. oming up, a look at egypt's constitutional referendum. we'll have a live on c-span to at 10:30 eastern -- on c-span2. we will focus on two stay today. we're in columbus, ohio and...
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Dec 12, 2012
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he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking qe4 what today. the current purchases are $40 billion of mortgage backed securities. they're going to replace operation twist with $45 billion. add it up, that's a total of $85 billion a month. what happens when you annualize that? the existing level of the balance sheet is $2.8 trillion. the expected growth, 85 times the 12 right there. it's going to be up by a trillion by the end of the year if they maintain the pace. well, the level at the end of the year is going to be $3.8 trillion. compare that with the balance sheet before the crisis began of $800 billion. so we're going to add on
he is in washington, where he himself scaled the georgian columns of the fed building. he is here with a preview. steve, what can we expect from the final fed decision of 2012? >> as you know, brian, i run a spdr line from the monument. that's how we get up here. this is really a historic day, and i think the market really hasn't focused on it. the fed's balance sheet is really about to explode. you just gave the numbers. i want to do the math on the numbers really quickly. we're asking...
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Dec 23, 2012
12/12
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FBC
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you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. here we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with super storm sandy. we have businesses that are close not reopening and this is happening in areas hit by the storm. the vital thing is to get the money flowing and more important than congress hagsling. snurkswe need to swallow pork to get what we need. >> no, we don't. you look at sandy spending bill if dc got hit and not new york or new jersey . two weeks after cat can the hit the new orleans area. that area got money. we are still waiting because it is hung up by pork. you are seeing 3 billion to pair or fix and new cars for the fbi and new trees in cemeteries and silly things like that. it is pr
you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. was a big scare but no injuries. here we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhattan and we have seen problems with...
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Dec 13, 2012
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hate to be such a short-term trader, because i'm not, but we're hanging on every word out of washington so give me your long-term expectations as well. >> i think the economy is doing quite well, you know, despite the fiscal cliff, and even thought the worries about taxes are affecting investors, they are not really affecting general economic activity, so the good news is the economy's got some sort of head of steam going, so from that perspective if they can do a deal relatively quickly, thin think we're in good shape. >> come on, if you look at the of a dense measures, they are turning down and measures of durable good orders, turning down. our question is housing and recoveries and they account for almost 80% of the economy. you're right, the capital goods orders are hurting, mostly because businesses are uncertain, i agree but general consumer spending, confidence aside. consumers are spending. that's the good news. >> the good news is they are not focused on the fiscal cliff the way businesses are, but at some point everything comes home to roost. sentiment is up, spending is up, b
hate to be such a short-term trader, because i'm not, but we're hanging on every word out of washington so give me your long-term expectations as well. >> i think the economy is doing quite well, you know, despite the fiscal cliff, and even thought the worries about taxes are affecting investors, they are not really affecting general economic activity, so the good news is the economy's got some sort of head of steam going, so from that perspective if they can do a deal relatively quickly,...
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Dec 30, 2012
12/12
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WBAL
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baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of bipartisanship to their drink orders and remind customers in our nation's capital to come together. >> wall street is typically quiet her this time of year, of course, this last week of 2012 was marked by investor concerns over congress' new year's eve plans and that looming fiscal cliff. so what impact does it have on your money? alison deans is with us, senior adviser at varick asset management. nice to see you. happy new year. do you have two plans for 2012, one that includes the fiscal cliff and one that doesn't? how do you prepare for the new year as an investor? >> pretty much. i mean, the outcome, if there is some type of healthy resolution to the fiscal cliff, even if they defer it for a week or two but come up with some healthy resolution, i think it bodes really well for global markets. if we wind up going into fiscal cliff and the world loses any faith in our government to accomplish anything that's helpful or relevant, i think
baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of bipartisanship to their drink orders and remind customers in our nation's capital to come together. >> wall street is typically quiet her this time of year, of course, this last week of 2012 was marked by investor concerns over congress' new year's eve plans and that looming fiscal cliff. so what impact does it have on your money? alison deans is with us, senior adviser at varick asset...
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Dec 13, 2012
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you have to be in washington. >> you know what? i've been hearing some of the analysts say that is a powerful impetus to get a deal done. they don't want to be here for christmas eve, right? >> would the president negotiate from hawaii? he's supposed to go to hawaii on december 17th. >> they have telephones in hawaii, i can tell you. >> no credibility. you have to be in washington. america will not stand for that, for these guys being on vacation. >> nancy pelosi said the deadline is early next week. >> if we don't have a deal by the end of next week, no deal to go over the cliff. >> let's do the countdown. down about 54 points. >> meanwhile, michigan is becoming the 24th right-to-work state here in the country. someone here says unions are toxic for both workers and companies. we'll tell you all about it. stay with us. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling
you have to be in washington. >> you know what? i've been hearing some of the analysts say that is a powerful impetus to get a deal done. they don't want to be here for christmas eve, right? >> would the president negotiate from hawaii? he's supposed to go to hawaii on december 17th. >> they have telephones in hawaii, i can tell you. >> no credibility. you have to be in washington. america will not stand for that, for these guys being on vacation. >> nancy pelosi...
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Dec 13, 2012
12/12
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let's not just say it's washington's fault. it's not. it's extreme right wing republican voices only some in that party, dominating the house, that need to say knock it off and get something done. >> thank you for your time today. >>> there's been an insurgent attack at the u.s. military base in kandahar this morning. it happened this morning. the pentagon saying insurgents detonated an i.e.d. near the airfield. three nato troops were wounded. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. darrell hasn't been able to visit his mom back east in a long time. [ mom ] things are s
let's not just say it's washington's fault. it's not. it's extreme right wing republican voices only some in that party, dominating the house, that need to say knock it off and get something done. >> thank you for your time today. >>> there's been an insurgent attack at the u.s. military base in kandahar this morning. it happened this morning. the pentagon saying insurgents detonated an i.e.d. near the airfield. three nato troops were wounded. [ male announcer ] it's that time of...
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Dec 12, 2012
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washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says no tax hikes for anybody while howard dean argues everybody needs to pay a
washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your...
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Dec 12, 2012
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is there a wall street washington disconnect? >> interesting question. i certainly hope markets will have to tank. i certainly -- we want to have confidence not just in markets but businesses and households as well and the best way, for fiscal policymakers can achieve that is by coming to a solution as quickly as possible. markets have already responded to some extent the band down. you see from day to day how they respond to news about negotiations. on the other hand it is also true, if you look at the experience, very informative experience of the debt limit debate in august of 2011, both confidence and markets remain pretty sanguine, of to pretty close to the point that it looked like there was a chance the debt limit would not be raised. and then, of course, there was a shark shark particularly to confidence about the time of the final debates. it is not unusual to see markets being complacent. of course, there is market point of view, risks in both directions, hings go badly but perhaps if things go well, that would be good news and may be right now
is there a wall street washington disconnect? >> interesting question. i certainly hope markets will have to tank. i certainly -- we want to have confidence not just in markets but businesses and households as well and the best way, for fiscal policymakers can achieve that is by coming to a solution as quickly as possible. markets have already responded to some extent the band down. you see from day to day how they respond to news about negotiations. on the other hand it is also true, if...
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Dec 22, 2012
12/12
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FOXNEWSW
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you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. >> live from america's news headquarters. i am kelly wright. an american marine is back on american soil after being released from prison. the judge released john hammar last night after ruling gance his weapon's chargings. this is a picture of him locked up shackled to a bed. he was arrested when he was driving across the border with an hireloom gun. >> this is a baby, rolling away in a shopping cart anded hading to a busy street. the police officer was at the right place at the right time and helped to save the child. the wisconsin police said the baby's mother placed the other child in the car and the shopping cart took off . it was a big scare but no injuries. here we go again. a bill intended to aid super storm sandy victims . this has spending hawks peeves. explain your flip side. >> i have no problem but i will say it is more important to thwart than haggle in congress. i live in loir manhatt
you can have washington d.c. stepping in and more federal innervention than we have right now . with all of the stuff. pet projects and in a way to help victims of super storm sandy. >> live from america's news headquarters. i am kelly wright. an american marine is back on american soil after being released from prison. the judge released john hammar last night after ruling gance his weapon's chargings. this is a picture of him locked up shackled to a bed. he was arrested when he was...
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taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you know. when you're driving cabs to the dad to this. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road to where they can pick up to what they can charge the mid think is fair. because the price is going to go out as if it is the same thing and making it difficult to rack up those fares and serve customers are the cabs city limits. so we just arrived at reagan airport which is just right outside of washington d.c. and not our cab driver was nice enough to drop us off here only he can't get a return fare back he has to leave and go all the way back to d.c. without anybody in his cab simply because of the regulations. tha
taxi in washington d.c. like many other cities you can't always get a cab when and where you need one but when you do catch a taxi and meet its driver and my name is not. always right you know it's almost too for you. like nasser he or she can offer up a reason when and why cabs becomes scarce of them you know. when you're driving cabs to the dad to this. too dangerous unsafe and on top of that the business is controlled by a commission that decides everything from how many cabs are on the road...
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Dec 13, 2012
12/12
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a car packed with explosives are reportingly washington. they stay they may actually win the civil war. >>> president barack obama and house speaker john boehner do not seem to be any closer on averting that fiscal cliff. ben bernanke said the lack much progress is already causing problems for the u.s. economy. >>> governor jerry brown will continue to work a full schedule while he has prostate cancer. he is being treated and when he meat with them in san jose... >> one would never have known there are health issues going on in that 74-year-old body and we actually enjoy the conversation. >> brown will be treated with radio therapy and the prognosis is excellent and the treatment will be completed januarypth you -- january 7th. we also have the full statement released by his office, just look for the hot topic section. >> let's go to sal because something is happening on the bay bridge the san mateo bridge, the traffic so far has not been too too adversely affected -- too adversely affected. we also have more light coming into san francisco
a car packed with explosives are reportingly washington. they stay they may actually win the civil war. >>> president barack obama and house speaker john boehner do not seem to be any closer on averting that fiscal cliff. ben bernanke said the lack much progress is already causing problems for the u.s. economy. >>> governor jerry brown will continue to work a full schedule while he has prostate cancer. he is being treated and when he meat with them in san jose... >> one...
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Dec 13, 2012
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boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has its frequency shoppers. but that being said, overall, if the consumer is not certain she has the disposal income, perhaps she holds back a little bit. >> sir, one of my
boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our...
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Dec 17, 2012
12/12
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CNNW
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however, this year, of course, markets hinge on those fiscal cliff negotiations in washington. soled dad, john? >> christine, thanks. ahead on this special edition of "starting point" coming to you from newtown, connecticut, what causes a young man to become so violent and kill innocent people? a psychology professor who studied mass shootings interviewed the family of one of the columbine killers. we'll talk about what he discovered. >>> and she died trying to save her room full of first graders. vicki soto's family talks about this heroic young woman when we return. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. nature valley granola thins pack the big taste of granola and dark chocolate into one perfect square, under 100 calories. nature valley granola thins. >>> welcome back, everybody, you're watching a special edition of "starting point," and we're coming to you live from newtown, connectic
however, this year, of course, markets hinge on those fiscal cliff negotiations in washington. soled dad, john? >> christine, thanks. ahead on this special edition of "starting point" coming to you from newtown, connecticut, what causes a young man to become so violent and kill innocent people? a psychology professor who studied mass shootings interviewed the family of one of the columbine killers. we'll talk about what he discovered. >>> and she died trying to save her...
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Dec 12, 2012
12/12
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FBC
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when anyone in washington d.c. at the fed or the white house or in congress or the senate thinks he or she knows best we already have of problem because this is supposed to be a government of consensus and direction that is empirically based, operating for two goals, the national interest and the common good. melissa: i thought the role of the fed was to keep money sound, to keep the monetary system roll along. lou: so modern, so forward looking. there is something nostalgic in what you say because we have moved well beyond that. this fed right now is in charge of our fiscal future. melissa: these things as our guests have expressed that the economy needs to have the fed do what has been doing to going? lou: ben bernanke has been the essential actor of the last four years because we have had such inadequate leadership from the white house, such inadequate imagination and public policy direction, principal or otherwise partisan or otherwise creative or otherwise, that without him not much would have happened and tha
when anyone in washington d.c. at the fed or the white house or in congress or the senate thinks he or she knows best we already have of problem because this is supposed to be a government of consensus and direction that is empirically based, operating for two goals, the national interest and the common good. melissa: i thought the role of the fed was to keep money sound, to keep the monetary system roll along. lou: so modern, so forward looking. there is something nostalgic in what you say...
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Dec 13, 2012
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is in a wall street-washington disconnect? >> interesting question. i certainly hope that markets wouldn't have to tank. i don't -- want to have confidence not just in markets but in businesses that households as well. and the best way the fiscal policy makers can achieve that is by coming to solution as quickly as possible. respond to news on negotiations but on the other hand, it's it true if we look at the experience, it's a formative experience of the debate in august of 2011 that both confidence and markets remain pretty -- close to the point where it looked like it was actually a chance debt limit would not be raised. and then, of course, there was a pretty sharp shock particularly to confidence about the time of the, you know, of the final debates, so it's not unusual to see markets being complacent. if things go well it would be good news. maybe right now marketses are thinking on average of possibilities. again to reintegrate, i don't think that any policy maker including the feds should be responding to markets should be doing is making poli
is in a wall street-washington disconnect? >> interesting question. i certainly hope that markets wouldn't have to tank. i don't -- want to have confidence not just in markets but in businesses that households as well. and the best way the fiscal policy makers can achieve that is by coming to solution as quickly as possible. respond to news on negotiations but on the other hand, it's it true if we look at the experience, it's a formative experience of the debate in august of 2011 that...
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Dec 13, 2012
12/12
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i don't think anybody wants to be in washington, d.c. for christmas dealing with this and i think that if we get to christmas and there's not a deal -- and they're not saying a deal will be done over the next couple of days, then i think you'll see people start to go buy options. i think the thing to watch to see if that happens is the vision. if the vix gets above 20, then we can see what's going on. >> you can always catch scott on options actions on friday afternoon. >> if you want comments on questions about anything you see here on "squawk box," e-mail us at squawk at cnbc.com or do the twitter thing. >> now you're like the recommended users. you should just tweet you direct. >> right. but you have had, what, 700 tweets, right? >> cramer, 26,000. >> carl like 8,000. >> carl is just -- he's a tweeting machine. >> puts pictures in and -- not like -- nice pictures, usually scenic pictures. still ahead, a former hockey great who went from superstar to down and out and now he's preaching fiscal responsibility. he's going to talk to us ab
i don't think anybody wants to be in washington, d.c. for christmas dealing with this and i think that if we get to christmas and there's not a deal -- and they're not saying a deal will be done over the next couple of days, then i think you'll see people start to go buy options. i think the thing to watch to see if that happens is the vision. if the vix gets above 20, then we can see what's going on. >> you can always catch scott on options actions on friday afternoon. >> if you...
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there is this mythology in washington and some of your guys in wall street it is bad for the economy. we keep focusing on the tax side of the equation but don't forget we have a spending site and the republicans a lot more say we don't like that option very much, this is the only way to get spending cuts. $110 billion spending cuts that happen automatically if you don't reach a deal. lori: if we don't rein in spending by meaningful amount will get another debt downgrade to the sovereign debt and it could be all over, interest rates shoot up and you have real problems. >> especially if you look in the future, even on the low interest rates expected within eight years we will spend more in interest payments then national defense, social security and that they care. if the rates go up, you're talking about billions of dollars of additional expenditures. any progress and talk about the last few weeks. lori: thank you. and i will book you for new year's eve. melissa: breaking news, google gmail service having intermittent outages. it is investigating the issue. gmail has 425 million gmail
there is this mythology in washington and some of your guys in wall street it is bad for the economy. we keep focusing on the tax side of the equation but don't forget we have a spending site and the republicans a lot more say we don't like that option very much, this is the only way to get spending cuts. $110 billion spending cuts that happen automatically if you don't reach a deal. lori: if we don't rein in spending by meaningful amount will get another debt downgrade to the sovereign debt...
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there has been incredibly little progress in washington since the offers officers were first treated. with respect you could start to run up to christmas here. it could take up to three days to get something through the senate. republicans have to sell it to house republicans. democrats have to be on board there. there are a number of different little concerns that happen, it and we are not even close to a deal. tracy: in that same local interview he had with the minnesota radio station, he said that spending cuts have to be paired with tax revenue increases. do we know what he's talking about? is he talking about a dollar for dollar cannot? >> we don't know what the proportion is. we have republicans saying that the president had previously promised to do 31 or four to one in tax revenues, the smaller part being the tax revenues and spending cuts, we know the white house had reduced the demand from 1.6 trillion to 1.4 trillion. they said that it was willing to do $600 billion in spending cuts. the republican offer had been $800 billion in revenue. again, it is how you structure the t
there has been incredibly little progress in washington since the offers officers were first treated. with respect you could start to run up to christmas here. it could take up to three days to get something through the senate. republicans have to sell it to house republicans. democrats have to be on board there. there are a number of different little concerns that happen, it and we are not even close to a deal. tracy: in that same local interview he had with the minnesota radio station, he...
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from washington, d.c. to miami to california, bells rang fare each life lost at sandy hook elementary school. at the episcopal church in newtown, connecticut, the bell tolled 28 times. one time for each life lost, including the shooter's. as the people of newtown cope with how this tragedy took place, investigators continue to search for the why. what motivated 20-year-old adam lanza to go on a mass killing spree? cnn's susan candiotti joins me now with the very latest. nice to see you and have you with us this morning. is there any better sense on the part of investigators about what was adam lanza thinking? what was going through his mind? >> that's what we would all of course like to know. of course, investigators have been working very hard on all of this nonstop. so far, there is very little indication that he had much of an online presence, for example, did he flag his intentions to anyone online? did he play any online games with anyone? did he tell anyone what he was thinking about? these are the t
from washington, d.c. to miami to california, bells rang fare each life lost at sandy hook elementary school. at the episcopal church in newtown, connecticut, the bell tolled 28 times. one time for each life lost, including the shooter's. as the people of newtown cope with how this tragedy took place, investigators continue to search for the why. what motivated 20-year-old adam lanza to go on a mass killing spree? cnn's susan candiotti joins me now with the very latest. nice to see you and have...
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lou: to surprise of many in washington boehner appears to have support of more voters than anyone thought previously, a new fox poll shows 3 a 3 to 1 margin, voters believe by enacting mostly spending cuts is the best way to deal with the problem. president obama continue its push his ultimatum on higher taxes for wealthy, and republican leaders responding by warning their members to be prepared for christmas in washington because of the stalemate. and joining us now, congressman devon nunez, a member of house aways and means committee. speaker saying they are separated by serious gaps here, what are your thoughts? >> i came on this show two weeks ago, i told you then that president wanted to go cliff diving, that is what he wants to do. he is not serious about getting a deal, if he was so serious, he would not have met with john boehner sunday morning then go out 24 hours later on a campaign stop to michigan railing about some middle class tax hike jarg onljargon he is using. he wants to go off the cliff,. lou: looking at that number. newest fox poll released a couple hours ago, that pol
lou: to surprise of many in washington boehner appears to have support of more voters than anyone thought previously, a new fox poll shows 3 a 3 to 1 margin, voters believe by enacting mostly spending cuts is the best way to deal with the problem. president obama continue its push his ultimatum on higher taxes for wealthy, and republican leaders responding by warning their members to be prepared for christmas in washington because of the stalemate. and joining us now, congressman devon nunez, a...
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rich edson is in washington d.c. bureau. what is the very latest? rich: in a republican congressman with knowledge of the talks as the two side are farther apart than they were last summer when debt talks between president obama and john boehner fell apart. republicans and democrats have new debt proposals on the table. the speaker says there are still serious differences. >> the president is calling for $1.4 trillion -- that cannot pass the house or the senate. >> force is a question of balance. we are willing to make sure everyone in america sacrifices a little. even those who have been struggling. liz: congress is running out of time to get this wrapped for christmas. the speaker would have to cover significant ground giving congress the week it needs to write, sell land pass any deal next week. aides say they are not close to a compromise. house majority leader eric cantor says republicans are prepared to work on this on the way up to the new year. cheryl: so much for christmas eve in eric cantor's household. thank you very much. much of the dis
rich edson is in washington d.c. bureau. what is the very latest? rich: in a republican congressman with knowledge of the talks as the two side are farther apart than they were last summer when debt talks between president obama and john boehner fell apart. republicans and democrats have new debt proposals on the table. the speaker says there are still serious differences. >> the president is calling for $1.4 trillion -- that cannot pass the house or the senate. >> force is a...
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>> yeah, shannon, reaction here in washington. so far very far reaching shock and grief new push for gun control as you can imagine and ideas for dealing with mass violence in this country. everyone seems to agree it's a difficult challenge with no eyesy solutions. >> we have to come a knowledge there is no simple solution. yes there needs to be a conversation about gun control but also about the way we treat mental illness, also about the culture of violence in this country which may have contributed to the way in which this very disturbed young man thought of course a hot topic on the sunday talk shows. joe lieberman of connecticut and congressman jason chaffets of utah both suggesting the mats media including violent negative video games negatively influence impressionable young men. dick durbin and lieberman suggesting a national commission on mass violence to find ways of preventing future tragedies like this. and some are pointing to a better mental health and better mental health screening as part of the answer. >> i think
>> yeah, shannon, reaction here in washington. so far very far reaching shock and grief new push for gun control as you can imagine and ideas for dealing with mass violence in this country. everyone seems to agree it's a difficult challenge with no eyesy solutions. >> we have to come a knowledge there is no simple solution. yes there needs to be a conversation about gun control but also about the way we treat mental illness, also about the culture of violence in this country which...
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we were consumed in washington d.c. with going to a gas station, taking your kids out to the home depot. >> yes. >> bret: and you think about communities that are gripped with fear after one of these events. >> well, i think as you're saying, he's not just speaking to this crowd here, he's speaking to the nation, a nation who is mourning and a nation who is frightened and people who have young children and nieces and nephews, look, they see this and they think this could happen to my children. i mean, what's to say there's not a copy cat or something like that, and i think that the president has to -- is going to be doing a lot of reassuring as well. >> we're looking live at the auditorium at newtown high school, about 900 people inside that auditorium, about 1300 people in an overflow area that has a live feed. there are other people outside. we're told the place is packed and obviously, a lot of family members there to see the president, to listen to him. there's a long lineup here and we're going to pause now so that
we were consumed in washington d.c. with going to a gas station, taking your kids out to the home depot. >> yes. >> bret: and you think about communities that are gripped with fear after one of these events. >> well, i think as you're saying, he's not just speaking to this crowd here, he's speaking to the nation, a nation who is mourning and a nation who is frightened and people who have young children and nieces and nephews, look, they see this and they think this could...
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let me go back and remember a little bit when i first came to washington after my doctorate and one of the first books i was exposed to was tom's book titled the state of ridge, where the government sponsored enterprise in the financial crisis, clearly tom was years ahead of his time at his predictions turned out to be all too accurate. a very long track record of being one of the 04 most forecasters of the state of the financial-services industry but when he is not writing books he spends his time as a fellow at the center for dance to governmental studies at johns hopkins university. tom also served as staff on the financial crisis inquiry commission and in my opinion there are a few things i would disagree with the commission's findings one thing i know for certain is the commission's report was stronger because of tom's involvement. the book is also informed largely by tom's experience on commission staff. we are fortunate to have with us alex pollock to offer his thoughts on the book. alex is resident fellow at the american enterprise institute. i got to know alex a decade ago whe
let me go back and remember a little bit when i first came to washington after my doctorate and one of the first books i was exposed to was tom's book titled the state of ridge, where the government sponsored enterprise in the financial crisis, clearly tom was years ahead of his time at his predictions turned out to be all too accurate. a very long track record of being one of the 04 most forecasters of the state of the financial-services industry but when he is not writing books he spends his...
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good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for once it is number twelve two thousand and twelve it's bad interest rate decision day and the fed announced it will expand its bond buying program with forty five billion dollars a month and longer term treasury securities as expected after the conclusion of operation twist at the end of this year speaking of twist though the fed also announced it's now timing interest rate guidance to economic guide posts in these currency wars who's winning who's losing what's the collateral damage the man who wrote the book on it jim rickards is here to discuss plus does devaluing the dollar fuel exports or does innovation and investment do that while if you think it's the latter unfortunately u.s. corporations cut an estimated one hundred seventy five billion dollars in investment from two thousand and nine to two thousand and eleven according to s. and p. which calls this un says dana will have reported by the wall street journal we'll talk about that and our interview
good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are your headlines for once it is number twelve two thousand and twelve it's bad interest rate decision day and the fed announced it will expand its bond buying program with forty five billion dollars a month and longer term treasury securities as expected after the conclusion of operation twist at the end of this year speaking of twist though the fed also announced it's now timing interest rate guidance...
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david: nick, words are cheap, particularly in washington. so are promises for that matter inside the beltway but did you get any specific promises people would hold the line on dividend taxes at least by some amount? >> i think we did get an indication, first of all, we're in tune with the issue of parity between capital gains and dividend taxes. they understood that. understood it as a concept going into the discussions. from an increase perspective they did understand it would have impact on economy, would have impact on our rates. but i think there is a sense of frustration there is a whole big issue to deal with here and comprehensive deal and they really don't know exactly where it is going to come out but there was optimism it would be something, less than ordinary income. david: good luck. let's hope you made progress. nick, pat, thank you both for coming in. >> thank you, david. >> thank you. liz: investors have been looking at different ways to hedge against inflation. many have been adding hard assets to their portfolio. david: tha
david: nick, words are cheap, particularly in washington. so are promises for that matter inside the beltway but did you get any specific promises people would hold the line on dividend taxes at least by some amount? >> i think we did get an indication, first of all, we're in tune with the issue of parity between capital gains and dividend taxes. they understood that. understood it as a concept going into the discussions. from an increase perspective they did understand it would have...
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paul volcker, like george washington, can't tell a lie. and he says, all right. and the all right response, in fact, confirmed the hidden agenda. what was the hidden agenda? to maintain painfully-high interest rates, to convince congress to curtail the budget deficit so that monetary policy could eventually ease up. the day after the bill just as final confirmation, the day after the bill was passed senator phil graham, who was the architect of the balanced budget amendment, called paul volcker and says, okay, now that we have the budget under control, do you think we can have an easier monetary policy? and volcker answers, we'll see. now, that's a typical central banker's response. and that brings me, of course, to today and the immediate future. the current full employment budget deficit is about 5% of gnp. 5% of national economic activity. it is a number that is eerily similar to the reagan era budget deficits. and ben bernanke is going to need lots of help in engineering an economic recovery without inflation. the volcker fed raised interest rates after years
paul volcker, like george washington, can't tell a lie. and he says, all right. and the all right response, in fact, confirmed the hidden agenda. what was the hidden agenda? to maintain painfully-high interest rates, to convince congress to curtail the budget deficit so that monetary policy could eventually ease up. the day after the bill just as final confirmation, the day after the bill was passed senator phil graham, who was the architect of the balanced budget amendment, called paul volcker...
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what are theyreally looking at in washington? how close are we to something? how close are we to something? rich edson on top of this like [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. you know, from our 4,000 television commercials. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. ye, i'm kind of a bideal. [sigh] it feels good to help people save... with great discounts likee safe driver, multicar, and multipolicy. 731, 732... you want my number, don't you? call 1
what are theyreally looking at in washington? how close are we to something? how close are we to something? rich edson on top of this like [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business...